What People Want, What Pandas BuildPanda DAO seeks to reduce the control centralized organizations have over information, and instead put personal data into the hands of the people. Panda DAO also aims to produce tools for DAOs, allowing more individuals to work full-time for this new type of organization. Panda DAO is more than just a decentralized media organization. Panda DAO is developing new decentralized data systems and liberating internet products and human resources from Web2.Panda DAO has been community-managed since the beginning and now continues this path by decentralizing all authority over the treasury. Token holders own 100% of the treasury assets. This white paper was created with the purpose of establishing ground rules which will discipline evildoers and motivate the contributors in the DAO. Elections will occur in cycles, keeping the power of project initiators or evildoers in check. The white paper also defines the proposal process, review steps, and voting weights, which enable managers and workers to hear the voice of everyone in the community.Product Roadmap 《Panda Media》The platform mainly collects the public cryptocurrency information from the internet, including but not limited to Twitter, the official website of the CEX, the official forum of the project, the official website of the government, media, etc. After obtaining massive data, the project will crowdsource the auditing process. Community members will review and annotate the information. Panda DAO hopes that by leveraging a decentralized community system, the end product will clearly convey current and important information, attention index, information source, while also screening out fraudulent information, etc.《Panda Social》After obtaining massive amounts of media data, engineers disassemble all information through algorithms to generate word clouds. Based on this function, users can immediately learn the current public opinion, the sources of that opinion, the rate of virality, and so on. An early warning system will notify subscribers immediately when sentiment shifts, for example, when a large number of $SOS moves in the market.《Panda Payment》Although blockchain has been developing for years, so far we have never found a suitable, anonymous, decentralized payment gateway. Payments are fundamental in a decentralized world, but most web3-related payments are currently executed on Web2 technology. Panda DAO plans to develop a payment gateway, controlled by a multi-sig contract, designed to meet the payment needs of web3 projects.Community Operation Rules Panda DAO has no CEO, only Leaders. If needed, the community could vote for switching to a new leader.The treasury of Panda DAO will launch with 9 multi-sig keyholders. The Community can decide later to increase, reduce, or replace the keyholders.By default, the DAO will conduct a leader election every year.An emergency election can be held anytime, so long as community members vote for it.No DAO member may inhabit both multi-sig and leader roles simultaneously.In regards to funding from the treasury, no matter what amount is planned to be used, there must be a vote.For any modification of the Panda DAO white paper, proposals and community votes must be necessary.Vote Weighting Rules: Token Vote Weighting: 80%Work Group Vote Weighting: 15%Leader Vote Weighting: 5%Vote WeightingVote Weighting Token Voting Type: Token Voting includes veToken voting and unstacking token voting. The weighting of these two types is the same. The only difference is that they each yield different earnings.People who stake their Tokens get tokens in return. Every year the DAO issues a dividend to veToken holders. Staking does not cause holders to lose their voting rights. Instead, the community of veToken has its own voting system. When the staking lock period expires, any veToken the holder possesses will reduce to 0. For example, customer A stakes 100 Token, he will get 100 tokens in return and when his staking lock period expires, his betoken will turn to 0.Panda DAO designed the tokenomics this way to avoid whales from using the funding in Panda DAO's treasury on their own behalf. In addition, this design can also prevent voting mistakes. All voting results will be transparent, including how the Work Group and Leader voted. Work Group includes treasury multi-sig roles, auditors, developers, and other staff.Token Distribution and Economic Plans The initial token distribution of Panda DAO is shown below:DAO Fundraising: 50% The Project Development Team: 12% (Linear releasing) The Content Auditing Team: 6% (Linear releasing) Leader: 4% (Linear releasing) Columnist: 6% (Linear releasing) Other Team Spending: 12% PeopleDAO Funding: 5% LP Pool: 5%Distribution Distribution Linear releasing: It is a 1-year cycle and 1/12 will be released on a monthly basis. Releasing expires after 1 year.DAO Fundraising: Panda DAO plans to raise 500 ETH on JuiceBox, of which 5% will be donated to the PeopleDAO community to credit their funding and support at the beginning of this project. PeopleDAO will use this donation to support more DAO ecosystems. All raised funding will be released at one time and there is no linear unlocking.The sale price of the Token will be 1 ETH = 500,000 Token. After the fundraising period, Panda DAO will calculate and produce the corresponding token supply based on the funding we receive.To ensure a fair sale, as well as to avoid Panda DAO's tokens from being owned by a few people which could result in centralization, Panda DAO will close the funding channel 24 hours after the funding exceeds 500ETH. The token then will be minted and released.The Project Development Team In the first phase, 12% of the Token will be released to the development team, in which 3% will be released to all developers and the remaining 9% will be distributed based on an internal vote (All votes will be published).The Content Auditing Team The content auditing team will filter and make sense of large amounts of information. The identity of every auditor will be public in order to be transparent. Panda DAO plans to recruit more than 1K auditors who will use their spare time to contribute.Every month Panda DAO will distribute Token rewards to auditors based on the auditing work they have accomplished and our analytical searching model.The criteria include but are not limited to:Timely Audit; 2. Audit Quality; 3. Audit AmountColumnist: Panda DAO has not developed our own newsdesk at this moment. Panda DAO's data is sourced from the internet publicly and provides a basis for articles. In order to reward the columnists, Panda DAO will pick hundreds of blogs, articles, videos, etc every month and then vote for them. Based on the weight of votes, Panda DAOwill provides Token rewards to each author. Panda DAO hopes to get more and more high-quality content with this approach.Other Teams: Beyond the Token distribution above, Panda DAO will also reserve tokens for other teams, such as operating teams and full-time partners. This part also belongs to the community treasury, and the specific case needs to be proposed by the community. Of course, the community can propose to use it in any way for non-team members.LP POOL: In the beginning, Panda DAO will put 5% of our Token in LP Pool to serve the market circulation and investors from the secondary market. The fee profit will get added to our treasury.In order to reduce impermanent loss, the community will deposit in batches to ensure that ETH in the LP pool is less than 10% of the funding amount.PeopleDAO Funding: As an early funder and contributor, 5% of the Token will be given to the PeopleDAO community for their governance of subDAO. At the same time, this will bond the PeopleDAO and subDAO even more and create a community of interests.Leader The leader of PandaDAO will need to be a full-time employee. The token rewards will be given linearly to the Leader on a monthly basis. When the proposal for replacing the leader passes, the token compensation will be terminated for the current Leader and switched to the new Leader.Funding Plan The raised funding will pay for renting servers and API connection, safety auditing, partnership costs, marketing, and the initial build of the LP Pool. The cost of renting a server will be 999 USD per month. As Panda DAO approaches the late stage, Panda DAO will expand its server capacity and set up a backup server. Safety auditing includes contract code, organization operation, and other code logic safety auditing. Panda DAO will also need a high-performance CDN server to prevent DDOS attacks and other normal SQL and XSS attacks. The product development at the late stage will also need server resources and bandwidth expansion. For full-time workers, Panda DAO will have some salary packages and Token option rewards. All of these efforts require funding.Distribution of DAO Treasury Revenue 40% buyback of PandaDAO Token 10% veToken dividend 5% purchase of $PEOPLE token, sent to PeopleDAO treasury 45% Other digital assets reserve *Attention： This is treasury revenue, not funding to DAO! Treasury revenue includes LP fees, product charge profit, advertisement income, etc. Treasury revenue distributionTreasury revenue distribution Buyback PandaDAO Token The community will use 50% of the revenue collected from the Treasury to buy back tokens, funding the incentive program for the coming year, while also capturing value for the PandaDAO token. The token’s main purpose is to fill the incentive pool of long-term contributors (project development team, content review team, columnist team, other teams). In this way, Panda DAO can ensure the economic plan continues. If the Token premium is too high, resulting in insufficient Token storage in the Treasury, the incentive plan can be implemented by using other assets(USDC, ETH, WBTC, etc).Dividend The community will use 10% of the Treasury proceeds to reward people who put their tokens into staking. VeToken dividends are mainly linked to the time weight of staking and the number of staking.Purchase $Token to Fund PeopleDAO Having established a precedent, ConstitutionDAO holds significance to DAOs. And PeopleDAO is PandaDAO's early backer. PeopleDAO, PandaDAO, and AssangeDAO. These projects are all based on the ideas associated with the $PEOPLE token, which represents basic consensus. Donating 5% does not strain PandaDAO financially and is another way to give back to PeopleDAO. For $PEOPLE purchased, the PeopleDAO community can initiate a proposal for burning or other incentive programs. Perhaps at a later stage, the PeopleDAO community will initiate its own revenue streamt, such as a LaunchPad. Until then, however, the DAO community needs to help each other and later the community can submit proposals for changes or cancellations for this.Other Treasury Assets Other Treasury assets include stablecoin, ETH, BTC, etc. The use of Treasury assets can range from investments in other projects to stalbecoin farming. This is a community-sponsored decision because managers and workers do not have absolute authority over any use of funds from the Treasury.Revenue Source PandaDAO's current product is Panda Media, which mainly conducts information screening, filtering, analysis, and push alerts of internet networks. Project founder, Panda, will add premium functions, such as push alerts for hot keywords, push alerts for important information, advanced search function, and so on. At the same time, Panda DAO will also develop other premium products, and these premium products can generate a lot of revenue for the Treasury. In addition to the user's payment for the product, Panda DAO also havs LP pool revenue, Treasury stablecoin farming revenue, investment revenue, advertising revenue, and so on.Security Treasury Assets In the case Panda DAO does not have a multi-sig Treasury, PeopleDAO's multi-sig Treasury will manage the full financing results and the remaining tokens.The assets will be transferred to the Panda DAO Multi-Sig Treasury after it is confirmed. People DAO's multi-sig is 9 people, elected by open election, which can ensure absolute fairness.And one of the rules of the community is that any use of Treasury assets must be put to a vote, from financing, capital migration, to any link of capital use. This approach avoids personal appropriation of funds.Code Security After the financing, Panda DAO will initiate a code security audit of ERC, which will be conducted by a professional security organization. After the completion of the first iteration of the product, we will start the security work of the whole product, including but not limited to server security, front-end and back-end code security audit, architecture security audit, logical vulnerability security audit, etc.Proposal Posting, Review, and Voting Process Any token holder can post a draft to Panda DAO's Discord. Panda DAO will create a proposal template for reference. The community will discuss active proposals once per week, with Discord moderators facilitating the conversation. The discussion will include stakeholders such as PandaDAO multi-signers, admins, leaders, full-time staff, and other workers, who will do an initial internal vote on the proposal. If the proposal receives more than 60% approval it moves forward to a public vote on whether it should be implemented. The community can only approve one proposal per week, to ensure the efficiency of implementation and tracking of proposals.All proposals will go through three rounds of voting: Snapshot (unlocked Token voting), veToken voting, and Dework voting (workers and Leaders voting) The ve system is currently in development so the DAO will start with Snapshot and Rework voting. After the development is completed, the ve system will be handed over to the security team for audit and then go live.The main reason for the design of this proposed system is to avoid approving proposals with less community consensus. Additionally, we want a system where even if you hold a small number of tokens, you can still contribute towards adopting valuable proposals.Refund Plan No project can be 100% successful, including PandaDAO. If the project fails for any reason, the community will initiate a proposal and if voted in, a refund process will be initiated.Panda DAO will calculate the worth of assets owned by the DAO at that time, including the amount in the Treasury. A snapshot will be taken of the wallet addresses investing in the DAO at that time. Everyone will get a fair refund.